Guys pay attention to the pivot points on the above chart. I have derived my calculation from another charting software, an Mt4 to be precise.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP )
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
Please, start to put these levels into use from Monday 20, 2020.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
So, if the price of BTC stands above its Weekly Pivot Point by the time market opens on Monday do not rush to open position. Allow the price to tend toward the Pivot Point, you will probably get a much better entry point, around this price level.
The long entry opened at WPP, will target WPR1 at 7343.6.
Thanks for reading, and my the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP )
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
Please, start to put these levels into use from Monday 20, 2020.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
So, if the price of BTC stands above its Weekly Pivot Point by the time market opens on Monday do not rush to open position. Allow the price to tend toward the Pivot Point, you will probably get a much better entry point, around this price level.
The long entry opened at WPP, will target WPR1 at 7343.6.
Thanks for reading, and my the pips be with you all.
Note
If you trade over the weekend, do not expect volume to increase. In fact, as at the time of this update 
BTC has already printed the high for today. BTC should slightly trade lower to its DPP into the end of the today's trading session.I don't open new during the weekend, but my long entries since on Monday are still running till the end of this bullish move.
Trade safe guys.
Note
Buyers are able to push BTC price upward to test its daily pivot at 7173.6 on a weekend! This speaks volume about the determination of buyers to keep the price of BTC higher.Trade active
I wish to state that if you're planning to trade this idea, you can set a buy order at or below the WPP. Personally, I usually set my buy order 40 pips below the entry price level.Note
BTC on its way to WPP, watch out guys!Note
BTC has tested its WPP, a second test is possible. So, if your buy order has not filled don't worry, will mostly filled at second testing!Trade active
And BTC finally did that retesting! All my orders below MPP got filled. Let's see how price action react from this level, BTC should resume its uptrend from here though.Trade active
Buy Bitcoin guys, you may not get it this cheap anymore!Trade active
I'm still holding on to my buy orders. Now that BTC has tested its WPP and if price is able to stabilize above this level, the next direction is the WPR1.
Let's just see how things goes.
Trade active
It seems price has stabilized above WPP, I'm adding to my positions at a retest of this level.Trade active
BTC gradually approaching its WPR1, buckle up guys for BTC harvest!Trade closed: target reached
Amazingly, BTC eventually reach our target(WPR1). Some positions closed, while some are left running. Who knows, this bullish trend might continue. Don't forget BTC MPR1 is at 9075, let see if we can achieve that level before the end of the month.So, congratulations if you patiently followed this idea of mine.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.